Dr. Ma's Trip to Canada
The Economic Impact of Uncertainty About
U.S. Regulations of the Energy Sector
August 11-14, 2022
University of Calgary
2500 University Dr NW
U.S. regulations of oil and gas operations have existed for over a century in various forms. In this paper, we conduct a machine-learning textual analysis of more than 500,000 news articles related to energy regulation uncertainty that were published in seven leading U.S. newspapers from January 1985 to December 2021. We then estimate a structural VAR model with the constructed regulation uncertainty index, energy sector variables, as well as nationwide and state level macroeconomic indicators. Based on the empirical results, we provide new insights into the economic impact of uncertainty about U.S. regulations of the energy sector.
(paper in progress)